Archives October 2020

CBDT issues Press Release for extension of due dates for filing Income-tax Returns and Tax Audit Reports under the Income-tax Act, 1961 for AY 2020-21

CBDT issues Press Release for extension of due dates for filing Income-tax Returns and Tax Audit Reports under the Income-tax Act, 1961 for AY 2020-21

Government of India
Department of Revenue
Ministry of Finance
Central Board of Direct Taxes

New Delhi, 24th October, 2020
PRESS RELEASE
Extension of due date of furnishing of Income Tax Returns and Audit
Reports
In view of the challenges faced by taxpayers in meeting the statutory and
regulatory compliances due to the outbreak of COVID-19, the Government brought the
Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the
Ordinance’) on 31st March, 2020 which, inter alia, extended various time limits. The
Ordinance has since been replaced by the Taxation and Other Laws (Relaxation and
Amendment of Certain Provisions) Act.
2. The Government issued a Notification on 24th June, 2020 under the
Ordinance which, inter alia, extended the due date for all Income Tax Returns for the
FY 2019-20 (AY 2020-21) to 30th November, 2020. Hence, the returns of income which
were required to be filed by 31st July, 2020 and 31st October, 2020 are required to be
filed by 30th November, 2020. Consequently, the date for furnishing various audit
reports including tax audit report under the Income-tax Act, 1961 (the Act) has also
been extended to 31st October, 2020.
3. In order to provide more time to taxpayers for furnishing of Income Tax
Returns, it has been decided to further extend the due date for furnishing of Income-Tax
Returns as under:
(A) The due date for furnishing of Income Tax Returns for the taxpayers
(including their partners) who are required to get their accounts audited [for whom the
due date (i.e. before the extension by the said notification) as per the Act is 31st
October, 2020] has been extended to 31st January, 2021.
(B) The due date for furnishing of Income Tax Returns for the taxpayers who
are required to furnish report in respect of international/specified domestic transactions
[for whom the due date (i.e. before the extension by the said notification) as per the Act
is 30th November, 2020] has been extended to 31st January, 2021.
(C) The due date for furnishing of Income Tax Returns for the other taxpayers
[for whom the due date (i.e. before the extension by the said notification) as per the Act
was 31st July, 2020] has been extended to 31st December, 2020.
4. Consequently, the date for furnishing of various audit reports under the
Act including tax audit report and report in respect of international/specified domestic
transaction has also been extended to 31st December, 2020.
5. Further, in order to provide relief to small and middle class taxpayers, the
said notification dated 24th June, 2020 had also extended the due date for payment of
self-assessment tax for the taxpayers whose self-assessment tax liability is up to Rs. 1
lakh. Accordingly, the due date for payment of self-assessment tax for the taxpayers
who are not required to get their accounts audited was extended from 31st July, 2020 to
30th November, 2020 and for the auditable cases, this due date was extended from
31st October, 2020 to 30th November, 2020.
6. In order to provide relief for the second time to small and middle class
taxpayers in the matter of payment of self-assessment tax, the due date for payment of
self-assessment tax date is hereby again being extended. Accordingly, the due date for
payment of self-assessment tax for taxpayers whose self-assessment tax liability is up
to Rs. 1 lakh has been extended to 31st January, 2021 for the taxpayers mentioned in
para 3(A) and para 3(B) and to 31st December, 2020 for the taxpayers mentioned in
para 3(C).
7. The necessary notification in this regard shall be issued in due course.
(Surabhi Ahluwalia)
Commissioner of Income Tax
(Media & Technical Policy)
Official Spokesperson, CBDT

 

Click here for Press Release

Due dates for filing of Form GSTR-3B for the Tax Period of September, 2020 16/10/2020

Due dates for filing of Form GSTR-3B for the Tax Period of September, 2020.   16/10/2020

 

Government of India, vide Notification No. 29/2020 – Central Tax, dated 23rd March, 2020, had staggered filing of Form GSTR-3B, for the tax periods of April to September, 2020.

The due dates for filing of GSTR-3B returns for tax period of September, 2020, are as given below:

Sl. No Taxpayers with aggregate turn over (PAN based) in the previous financial year And Taxpayers having principal place of business in the State/ UT of Due date of filing of Form GSTR 3B, for September, 2020
1 More than Rs 5 Crore All States and UTs 20th October, 2020
2 Upto Rs 5 Crore State of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep 22nd October, 2020
3 Upto Rs 5 Crore State of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi 24th October, 2020

This is for information and necessary action please.

Thanking You,

Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B. 23/10/2020

Withdrawal of EVC facility extended to companies for filing GSTR1 and GSTR3B. 23/10/2020

 

The facility to file GSTR 3B and GSTR-1 with the EVC in lieu of DSC extended to the registered person, who are also registered under the Companies Act, 2013, shall be withdrawn w.e.f. 1st Nov. 2020. However, facility to file NIL returns through OTP verification, shall be continued for all types of registered persons in view of notification 58/2020- dated 1st July 2020

Filing NIL Form CMP-08 statement through SMS on GST Portal 26/10/2020

Filing NIL Form CMP-08 statement through SMS on GST Portal 26/10/2020

 

    1. A Composition taxpayer may now file NIL statement in Form GST CMP-08 for a quarter, through an SMS, apart from filing it through online mode, on GST Portal.
    2. To file NIL Form GST CMP-08 through SMS, the taxpayer must fulfil following conditions:

 

    • Taxpayer must be registered as composition taxable person (by filing Form GST REG-01) or the taxpayer might have opted for composition levy (by filing Form GST CMP-02).
    • Taxpayer must have filed all the applicable statement(s) in Form GST CMP-08 for the previous quarter(s).
    • Authorized signatory and his/ her phone number must be registered on the GST Portal.
    • There must not be any data in save stage, in online version of Form GST CMP-08, on the GST Portal.
    1. NIL Form CMP-08 for a tax period must be filed by the taxpayer, if there is no:

 

    • outward supplies;
    • liability due to reverse charge (including import of services); and
    • other tax liability for the quarter, for which the statement is being filed.
    1. Steps to File Nil Form GST CMP-08 through SMS are as below:

 

      • Send SMS to 14409 number to file Nil Form CMP-08 ie NIL space Return Type space GSTIN space Return Period

 

      • (For example for NIL Filing for Tax Period Apr-Jun 2020: NIL C8 07AQDPP8277H8Z6 062020)

 

      • Send SMS again on the same number 14409 with Verification Code to confirm filing of Nil Form CMP-08

 

      • (For Example: If Verification Code received here is 324961: CNF space Return Type space Code – CNF C8 324961)

 

    • After successful validation of “Verification Code”, GST Portal will send back ARN to same mobile number and on registered e-mail ID of the taxpayer to intimate successful Nil filing of Form GST CMP-08.
    1. All the authorized representatives for a particular GSTIN, with unique mobile number can file NIL Form GST CMP-08 through SMS.
    2. The due date for filing of Form GST CMP-08 is 18th of the month following the quarter.
    3. For more details on filing Nil Form GST CMP-08 on the GST Portal Click this link:

https://tutorial.gst.gov.in/userguide/returns/index.htm#t=FAQs_SMS.htm

Thanking you,

In exercise of the powers conferred by the third proviso to sub section 2 of section 92C of the Income tax Act 19-Oct-2020

In exercise of the powers conferred by the third proviso to sub section 2 of section 92C of the Income tax Act 19-Oct-2020

 

MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION

New Delhi, the 19th October, 2020
[INCOME-TAX]
S.O. 3660 (E) .—In exercise of the powers conferred by the third proviso to sub-section (2) of section 92C
of the Income-tax Act, 1961 (43 of 1961)(hereinafter referred to as the „said Act‟), read with proviso to sub-rule (7) of
rule 10CA of the Income-tax Rules, 1962, the Central Government hereby notifies that where the variation between
the arm‟s length price determined under section 92C of the said Act and the price at which the international
transaction or specified domestic transaction has actually been undertaken does not exceed one per cent. of the latter
in respect of wholesale trading and three per cent. of the latter in all other cases, the price at which the international
transaction or specified domestic transaction has actually been undertaken shall be deemed to be the arm‟s length
price for assessment year 2020-2021.
Explanation.- For the purposes of this notification, “wholesale trading” means an international transaction or
specified domestic transaction of trading in goods, which fulfils the following conditions, namely:-
(i) purchase cost of finished goods is eighty per cent. or more of the total cost pertaining to such trading
activities; and
(ii) (ii) average monthly closing inventory of such goods is ten per cent. or less of sales pertaining to
such trading activities.
[Notification No. 83/2020/F. No. 500/1/2014-APA-II]
RUCHIKA SHARMA, Under Secy.

CG-DL-E-19102020-222545

In exercise of the powers conferred by sub section 1 of section 295 of the Income tax Act, 22-Oct-2020

In exercise of the powers conferred by sub section 1 of section 295 of the Income tax Act, 22-Oct-2020

MINISTRY OF FINANCE
(Department of Revenue)
(Central Board of Direct Taxes)
NOTIFICATION
New Delhi, the 22nd October, 2020.

G.S.R. 664(E).—In exercise of the powers conferred by sub-section (1) of section 295 of the
Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules
further to amend the Income-tax Rules, 1962, namely:-
1. Short title and Commencement.- (1) These rules may be called the Income-tax (23rd
Amendment) Rules, 2020.
(2) They shall come into force from the 1st day of April, 2021.
2. In the Income-tax Rules, 1962, in rule 67, in sub-rule (2), ‒
(i) in the fifth proviso, for the letters “AA”, the letter “A” shall be substituted;
(ii) in the eighth proviso, for the letters, “AA”, the letter “A” shall be substituted; and
(iii) in the eleventh proviso, for the letters, “AA” occurring at both the places, the letter “A” shall be
substituted.
[Notification No. 84/2020/F. No. 370149/76/2019-TPL]
GUDRUN NEHAR, Director (TPL-II)
Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section-3, Subsection (ii) vide number S.O. 969 (E), dated the 26th March, 1962 and last amended vide notification
number G.S.R No.610 (E) dated 1st October, 2020.
Explanatory Memorandum
Notification No.84 /2020, dated 22 October, 2020
Vide Notification No. 84 /2020, dated 22 October, 2020, Rule 67 of the Income-tax Rules, 1962 has been
amended. The said amendment shall be effective from Assessment Year 2021-22 and subsequent years.

CG-DL-E-22102020-222660

the material injury has been caused by the subsidised imports of the subject goods originating 09-Oct-2020

the material injury has been caused by the subsidised imports of the subject goods originating 09-Oct-2020

 

CG-DL-E-09102020-222328

In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, 15-Oct-2020

In exercise of the powers conferred by section 148 of the Central Goods and Services Tax Act, GST 15-Oct-2020

CG-DL-E-15102020-222495

Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Cr., after 15th October, 2020

Blocking of E-Way Bill (EWB) generation facility for taxpayers with AATO over Rs 5 Cr., after 15th October, 2020

    1. In terms of Rule 138 E (b) of the CGST Rules, 2017, the E Way Bill generation facility of a person is liable to be restricted, in case the person fails to file their GSTR-3B returns, for a consecutive period of two months or more.
    1. As you might be aware that the GST Council in its last meeting has decided that this provision will be made applicable for the taxpayers whose Aggregate Annual Turn Over (AATO, PAN based) is more than Rs 5 Crores.
    1. Thus, if the GSTIN associated with the respective PAN (with AATO over Rs 5 Cr.) has failed to file their GSTR-3B Return for 02 or more tax periods, up to the month of tax period of  August, 2020, their EWB generation facility will be blocked on the EWB Portal. Please note that the EWB generation facility for such GSTINs (whether as consignor or consignee or by transporter) will be blocked on EWB Portal after 15th October, 2020.
    1. To avail continuous EWB generation facility on EWB Portal, you are therefore advised to file your pending GSTR 3B returns immediately.
  1. Please ignore this update if:
    1. You are not registered on the EWB portal or
    2. You have already filed your GSTR-3B Return for August, 2020 or
    3. Your AATO (PAN based) is below Rs 5 Cr.

Thanking you,

Due dates for filing of Form GSTR-3B for the Tax Period of September, 2020

Due dates for filing of Form GSTR-3B for the Tax Period of September, 2020

16/10/2020

Government of India, vide Notification No. 29/2020 – Central Tax, dated 23rd March, 2020, had staggered filing of Form GSTR-3B, for the tax periods of April to September, 2020.

The due dates for filing of GSTR-3B returns for tax period of September, 2020, are as given below:

Sl. No Taxpayers with aggregate turn over (PAN based) in the previous financial year And Taxpayers having principal place of business in the State/ UT of Due date of filing of Form GSTR 3B, for September, 2020
1 More than Rs 5 Crore All States and UTs 20th October, 2020
2 Upto Rs 5 Crore State of Chhattisgarh, Madhya Pradesh, Gujarat, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Telangana or Andhra Pradesh or the Union territories of Daman and Diu and Dadra and Nagar Haveli, Puducherry, Andaman and Nicobar Islands and Lakshadweep 22nd October, 2020
3 Upto Rs 5 Crore State of Himachal Pradesh, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand or Odisha or the Union territories of Jammu and Kashmir, Ladakh, Chandigarh and Delhi 24th October, 2020

This is for information and necessary action please.

Thanking You